Greenline Ventures, The Fund Rockies, and First Southwest Community Fund join the Greater Colorado Venture Fund to provide four distinct types of growth capital
Grand Junction, Colorado (May 17, 2021) – Any company located in rural Colorado and serving customers well beyond its locality has until June 18th to apply for over $1,300,000 in available investment through the Greater Colorado Pitch Series.
In 2020, the inaugural event drew in nearly one hundred applicants from 24 different Colorado communities for a chance at investment from the Greater Colorado Venture Fund (GCVF). The event ultimately facilitated over two million dollars in funding from GCVF and its partners and garnered nearly 2,000 online views. This year’s Greater Colorado Pitch Series returns with the same remote application format, online broadcast, and in-person headline event for West Slope Startup Week.
For 2021 however, the event will include three new capital providers alongside GCVF. This makes four capital tracks for companies to apply to, distinguished by investment stage and type. On the debt side, Greenline Ventures will provide $1,000,000 in “growth debt” and First Southwest Community Fund will provide $50,000 in “early-stage debt.” From the venture side, The Fund Rockies will invest $50,000 in a “pre-seed” stage startup and the Greater Colorado Venture Fund will invest at least $250,000 into a “seed stage” company. Each track funder will select two finalists to pitch and announce an investment winner during a July 16th culminating event.
Following last year’s Pitch Series, Product Movement Technologies received a loan from Greenline Ventures. “Greenline understood our vision and understood how we could grow our business with access to capital. They seemed to actually understand our business and what we would use the capital for,” said Luke Sutherland, CEO of Product Movement Technologies.
This seeded the idea to include multiple capital partners for 2021. “While we funded multiple seed-stage startups through last year’s event, there were many great companies that also deserved funding but our fund wasn’t the right fit. This year, we’re excited to showcase a broader set of the capital ecosystem players allowing us to get more funds to more growth-focused companies based on their stage and specific needs,” said Marc Nager, Founding Partner with the Greater Colorado Venture Fund.
Altogether, this year’s Greater Colorado Pitch Series will highlight the various stages, industries, and business models found amongst rural Colorado companies. “West Slope Startup Week is an event for all rural Colorado companies – whether that is just starting out or scaling from national to international distribution. I am looking forward to being able to highlight the true breadth of ambitious companies we’re seeing being built across the state and see real dollars continue to be invested,” said Mara Hardy, Business Development Manager at the Grand Junction Economic Partnership and Lead Organizer of West Slope Startup Week.
The deadline for founders to apply online is June 18, 2021.
With multiple sizes and types of growth capital available, companies located in rural Colorado, anywhere outside of the Fort Collins through Colorado Springs urban corridor, serving customers well outside of their locality, should consider applying.
Winners will be announced during the Finals event on July 16th, a hybrid virtual and in-person as part of West Slope Startup Week.
To apply for investment or watch the finals, visit: GCPS.co
This release is distributed by the Grand Junction Economic Partnership
The Grand Junction Economic Partnership (GJEP) works to enhance the economic vitality and quality of life in Colorado’s Grand Valley by supporting high-impact capital investment and job creation. GJEP is a single stop for businesses looking to relocate or expand in the cities of Grand Junction and Fruita, the Town of Palisade and surrounding communities of Mesa County. Operating as a 501(c)3, GJEP offers free services that connect businesses with realtors, developers, workforce, local leadership and more. GJEP is also the lead organizer for West Slope Startup Week and the Western Colorado Economic Summit. Visit www.gjep.org for more information.
update for day of press release